I too went to university in 2007 and didn’t finish for financial reasons! I had a meager $1500 loan, I couldn’t afford to pay off. Ended up paying through the IRS taking my tax refunds about 5 years. Paid $7000 for a $1500 loan. Fun times.
My credit, is however, still in the shitter. I’ve never owned a credit card. I refuse it.
Getting your credit score up can have benefits. My credit was destroyed after my bank scammed me and I couldn’t pass the background check to rent an apartment. I literally had to bribe a landlord with an extra $1k deposit just to rent an apartment. That’s just one example but there’s many more. The world is increasingly stacked against those with bad credit, and in favor of those with good credit. It really is in your interest to game your score up with a low limit card.
There are a couple products out there that will simulate a credit card, but not actually extend credit that can put you in debt. Depending on how you feel about fintech “banks”, Simple has a product called “credit builder” that works quite well. It’s essentially a revolving secured CC, but to the user it acts like a reloadable debit card.
I too went to university in 2007 and didn’t finish for financial reasons! I had a meager $1500 loan, I couldn’t afford to pay off. Ended up paying through the IRS taking my tax refunds about 5 years. Paid $7000 for a $1500 loan. Fun times.
My credit, is however, still in the shitter. I’ve never owned a credit card. I refuse it.
Getting your credit score up can have benefits. My credit was destroyed after my bank scammed me and I couldn’t pass the background check to rent an apartment. I literally had to bribe a landlord with an extra $1k deposit just to rent an apartment. That’s just one example but there’s many more. The world is increasingly stacked against those with bad credit, and in favor of those with good credit. It really is in your interest to game your score up with a low limit card.
I for sure understand this.
There are a couple products out there that will simulate a credit card, but not actually extend credit that can put you in debt. Depending on how you feel about fintech “banks”, Simple has a product called “credit builder” that works quite well. It’s essentially a revolving secured CC, but to the user it acts like a reloadable debit card.